The annual flagship meeting of the African Development Bank got underway in the Ivorian economic capital Abidjan on Wednesday with the expected reelection of the current leadership of the institution for another five years on Thursday.
The 55th Annual Meeting of the AfDB Board of Governors is running simultaneously with the 46th Annual Meeting of the African Development Fund (ADF) videoconference, due to the Covid-19 pandemic.
Ivorian leader Alassane Ouattara opened the session, which runs from August 26 to 27 with the reelection of the president of the bank Akinwumi Adesina.
He congratulated Adesina “for successfully continuing the work of transforming the bank.”
The Ivorian leader also expressed satisfaction with Mr. Adesina, a man Ouattara claimed had given the AfDB “great credibility and reputation of which we can be proud.”
On the itinerary of the annual meetings, are exchanges on the commitments made as part of the general increase in the bank’s capital.
Mr. Ouattara encouraged the governors to demonstrate both ambition and realism.
The chairperson of the Board of Governors, Kaba Nialé, Ivorian Minister of Planning and Development, gave an assessment of the 15 months spent at the head of the Board of Governors, referring to the seventh general capital increase of the AfDB.
This increase, obtained during the extraordinary meeting of the Board of Governors of the AfDB in Abidjan on October 31, 2019, worth $115 billion, the largest in the history of the bank, increased its capital from $93 billion to $208 billion.
“It not only allows the bank to maintain its excellent AAA rating, but also to further support the development efforts of African countries,” Ms. Kaba Nialé said in her opening speech.
Ms. Kaba Nialé noted the crisis management within the AfDB in relation to the whistleblowers’ complaint against Mr. Adesina, who was accused of favouritism by employees.
She commended the members of the High Level Panel whose “independent work exonerates Mr. Adesina from any wrongdoing.
Faced with the Covid-19 pandemic crisis, the bank’s board of directors took a “historic decision,” by approving a $10 billion Covid-19 Rapid Response Facility (CRF), she revealed.
The fund is intended, among other things, to finance exit plans and assist regional member countries and the private sector, she said, commending Adesina’s leadership and initiatives to accelerate Africa’s development and help the continent mitigate the impact of the health crisis.
Adesina reaffirmed his commitment to work with greater energy and self-sacrifice to help the African continent in its economic development.
He welcomed Finland, which brings the number of member states to 81.
LB/ls/lb/as/APA